Wintermute USA enters US regulated markets Crypto market maker @wintermute_t has registered its affiliate Wintermute USA LLC as a broker-dealer with the Securities and Exchange Commission (SE
Crypto market maker @wintermute_t has registered its affiliate Wintermute USA LLC as a broker-dealer with the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA), marking a formal expansion into US regulated markets. The New York-based entity is registered with the SEC and is a member of FINRA.
The registration establishes Wintermute USA LLC as a regulated proprietary trading firm, providing liquidity to national securities exchanges and over-the-counter counterparties.It enables the firm to trade traditional equities and equity options, act as an Authorized Participant for exchange-traded products (ETPs), including those tied to digital assets, solely for its own proprietary account, and self-clear digital asset securities transactions for its own account.
CEO Evgeny Gaevoy (@EvgenyGaevoy) framed the move as a strategic bet on the continued convergence of digital assets and traditional finance, with the firm positioning itself ahead of anticipated growth in tokenized securities. The Wintermute group processes over $10 billion in average daily volume across more than 60 venues globally.
The registration comes after Wintermute had already been engaging with US regulators on the framework for digital asset securities. In September 2025, Wintermute urged the SEC to affirm that broker-dealers may trade tokenized securities for their own account, self-clear and settle such trades, and custody proprietary positions using wallet software, without triggering customer protection rules. The broker-dealer license now puts the firm in a position to act on those principles directly within the US regulatory perimeter.
Wintermute USA focuses exclusively on proprietary trading and ETP services. The move signals a broader industry shift as crypto-native firms seek formal regulatory status in the US, particularly as tokenized real-world assets and spot digital asset ETPs attract growing institutional interest.
Sources:Wintermute launches US broker-dealer to expand regulated institutional reach (PR Newswire)Wintermute Trading Ltd. SEC Crypto Task Force Submission (SEC.gov)
